Financial Crime World

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Risk Assessment Report: Money Laundering, Terrorism Financing, and Proliferation Financing in Thailand

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Risk Assessment Methodology

The Financial Action Task Force’s (FATF) ML/TF/PF risk assessment methodology was used to identify potential risks and vulnerabilities in Thailand related to money laundering (ML), terrorism financing (TF), and proliferation financing (PF). The methodology consists of three stages:

1. Identification

  • First stage: Identify potential risks and vulnerabilities in Thailand related to ML, TF, and PF.

2. Analysis

  • Analyze the nature, sources, likelihood, and consequences of identified risk factors using a likelihood index (4 indicators) and a consequence index (7 indicators).

3. Evaluation

  • Prioritize risks and consider appropriate measures to mitigate or avoid them.

Data Collection

The report uses mixed methods, including:

• Documentary research

  • Analyze existing documents and literature related to ML, TF, and PF in Thailand.

• Analysis of official crime statistics

  • Examine the nature and trends of crimes related to ML, TF, and PF in Thailand.

• Case studies

  • Conduct in-depth analyses of specific cases involving ML, TF, and PF.

• Typology analysis

  • Identify and analyze different types of risks and vulnerabilities related to ML, TF, and PF.

• In-depth interviews with experts and officials

  • Gather information from experts and officials with knowledge of ML, TF, and PF in Thailand.

• Focus group discussions

  • Conduct group discussions with relevant stakeholders to gather insights on ML, TF, and PF in Thailand.

Specific Techniques Used

The report employs specific techniques, such as:

• Detection Capacity Model

  • Estimate the size and value of ML transactions using a detection capacity model.

• Big data analytics

  • Use big data analytics to assess potential risks related to unfair trade and price manipulation.

Threats Analysis

The report identifies three types of threats:

1. Money Laundering (ML)

  • Analyze predicate offenses, non-predicate offenses, and illicit financial flows.
  • Identify individuals, groups, and entities involved in ML activities.

2. Terrorism Financing (TF)

  • Analyze the movement of individual groups and entities relevant to terrorist activities and financing.
  • Identify potential sources of funding for terrorist organizations.

3. Proliferation Financing (PF)

  • Analyze individuals, groups, and entities involved in WMD proliferation and potential breaches or non-implementation of targeted financial sanctions.
  • Identify potential risks related to the financing of WMD activities.

Vulnerability Analysis

The report examines vulnerabilities related to ML, TF, and PF, considering the nature, sources, likelihood, and consequences of risk factors using a likelihood index and consequence index.